Tesla-Beating BYD Unveils $233,450 Supercar to Rival Ferrari and Lamborghini

BYD Co. has introduced its most expensive car yet, the Yangwang U9 electric sports car, priced at 1.68 million yuan ($233,450). The high-performance fully-electric supercar is set to compete with traditional gas-guzzling options from rivals such as Ferrari NV and Lamborghini. The company made the announcement during a live-streamed event in Shanghai, stating that the initial market for the Yangwang U9 will be in China.

The Yangwang U9 boasts impressive performance, capable of accelerating from 0 to 100 km/h (62 mph) in just 2.36 seconds and reaching a top speed of 309.19 km/h. This move marks BYD’s foray into the luxury car segment, following its success as the leading global electric vehicle seller, surpassing Tesla in the last quarter of 2023. While BYD is renowned for its affordable EVs, it also markets luxury models under the Yangwang and Fang Cheng Bao brands.

Amid an upcoming price war in China post-Lunar New Year, BYD is banking on the demand for high-end products that offer better margins. The company is set to launch other pricey EVs under the Yangwang brand later this year, including a luxury sedan expected to cost around 1 million yuan. Yangwang had commenced deliveries of its cars in late November, with the U8 luxury sports utility vehicle being its first production model, priced at 1.1 million yuan. As of the end of January, the company had already delivered 3,653 units.

With this bold move, BYD is positioning itself as a formidable competitor in the luxury electric car market, challenging established names like Tesla, Ferrari, and Lamborghini. As the electric vehicle industry continues to evolve, the emergence of high-performance electric supercars signifies a shift towards sustainable luxury transportation.